Pension And Retirement Benefits
Federal law states that a retirement benefit can only be divided between former spouses if there is a qualified domestic relations order (QDRO). For this reason, it is important to negotiate the division of retirement benefits in your divorce.
A QDRO is a special court order that grants you a portion of the retirement benefits your former spouse earned through participation in an employer-sponsored retirement plan. QDROs are typically prepared during divorce proceedings, but they are separate documents from the divorce decree. It is generally not enough for the divorce decree to call for the division of retirement benefits. However, we have also helped individuals who overlooked this commonly forgotten asset to file QDROs years after their divorce.
You don’t need to understand the law governing retirement benefits to receive a fair property division outcome in your divorce. At the law office of Jay S. Baum, we will take care of everything for you. By the time the divorce is finalized, we often joke that we will know your spouse’s finances better than you. You can trust in our experience.
Contact An Experienced Pension And Retirement Benefits Attorney
Don’t overlook pension and retirement benefits in your property division negotiations. Schedule a free initial consultation by calling our State Island office at 718-980-5200. You may also complete our online contact form.